ZAMBIA TRIPLES INVESTMENT COMMITMENTS

By Brian Mwale:Zambia’s Investment Commitments in the first half of this year have more-than tripled to three billion dollars from less than 1-billion dollars the same period last year.Zambia Development Agency -ZDA- Acting Director General Matongo Matamwandi says the investments are expected to create between 8-thousand and 10-thousand jobs once they take off.He says ZDA’s emphasis to investors has been creation of long term and not seasonal jobs with the 3-billion-dollar investment commitment coming from investors who have already acquired investment certificates.Mr. Matamwandi told ZNBC News in Lusaka that while some Zambians are uptight about the economy, foreign investors are not skeptical about the investment climate.He adds that 45 percent of the investments are in clean energy like solar and wind while 25 percent is in manufacturing because of the emphasis that ZDA has been making on Multi Facility Economic Zones and agro processing.Mr. Matamwandi was however quick to clarify that the investments will not happen overnight but may take between 11 months to five years because of processes especially for multi-national companies. Post Views: 12
News Source: ZNBC